Upheaval in retail world causes veteran dealer to sell

AUTHOR(S)

Rechtin, Mark

PUB. DATE

October 1999

SOURCE

Automotive News;10/18/1999, Vol. 74 Issue 5843, p19

SOURCE TYPE

Trade Publication

DOC. TYPE

Article

ABSTRACT

Reports on reasons for the decision of Don Lucas to sell his automobile dealerships in San Francisco, California. Premium price to be acquired from selling at a market peak; Lucas' sale of his stores to First America Automotive Inc.; Alarm over car manufacturers' entry into the retail business; Concerns about what the Internet will do to traditional dealer networks.

Opinion. Comments on the recognition of the automobile dealers importance in the industry. Friction between factory and dealer; Simultaneous handling of products of different manufacturers; Profits opportunities.

Reports on the settlement between the Federal Trade Commission and automobile dealers in Detroit regarding the latter's curtailment of operation hours. Minimal number of operation hours required for dealerships; Non-profitability of Saturday operations.

Reports on dealerships opened in the United States. Planned Lincoln-Mercury dealership opening in Novi, Michigan in April 1994; Owners; Renaming of the Garage International dealership in Chesire, Connecticut as Subaru by Garage International.

Reports on automobile dealer-related news. Woodbridge Metropolitan Chamber of Commerce Citizen of the Year Award given to Woodbridge Dodge president Dennis Adams Jr.; Alliance between San Francisco Bay Area Saturn dealers and the United States Marine Corps Reserve for the Toys for Tots program.